Stocks to watch on Monday, April 29: At around 8 AM, GIFT Nifty futures — an early indicator of the Nifty 50 index—were up 97 points, or 0.43 per cent, at 22,653 ahead of the opening bell on Dalal Street. The market benchmarks Sensex and Nifty wilted under selling pressure on Friday after a five-day rally as investors pared exposure to banking, financial, and consumer durable stocks amid mixed trends in global markets.

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Rising global crude prices, a depreciating rupee, and persistent foreign fund outflows further weighed on sentiment, traders said.

Profit-taking also came into play as the 30-share BSE Sensex tanked 609.28 points, or 0.82 per cent to settle at 73,730.16. The NSE Nifty declined 150.40 points, or 0.67 per cent to 22,419.95.

Here are some stocks that will be in focus on Monday, April 29.

Results on April 29: UltraTech Cement, Birlasoft, Trent, Can Fin Homes, and Tata Chemicals will announce their Q4 results today.

Maruti Suzuki: The country's largest car maker, Maruti Suzuki India, on Friday reported a 47.8 per cent rise in net profit for the March quarter of FY24 to Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices. The auto major had reported a net profit of Rs 2,623.6 crore in the year-ago period, Maruti Suzuki India said in a regulatory filing.

SBI Life: The insurance company reported a consolidated net profit of Rs 810.8 crore for the January-March period against Rs 776.85 crore year-on-year (YoY).

Britannia: The company will announce its Q4 results on May 3, 2024.

Force Motors: The company's consolidated net profit for the fourth quarter stood at Rs 140.29 crore against Rs 146.62 crore YoY, down 4.3 per cent. 

HCL Tech: The country's third-largest IT company by market value, reported on Friday a consolidated net profit of Rs 3,986 crore for the quarter that ended March 31, marking a decline of 8.4 per cent compared with the previous three months and falling short of analysts' expectations. 

ICICI Bank: Private sector lender ICICI Bank on Saturday said its March 2024 quarter consolidated net grew 18.5 per cent to Rs 11,672 crore. It had reported a net profit of Rs 9,853 crore in the year-ago period.

L&T Finance: The non-bank lender reported a 10.54 per cent rise in its consolidated net profit to Rs 553.88 crore for the March 2024 quarter (Q4 FY24). On a sequential basis, the net profit of L&T Finance fell 13.5 per cent. Net interest income (NII) was Rs 1,909 crore, compared to Rs 1,679 crore. On a YoY basis, it was up 14 per cent.

RBL Bank: The private sector lender on Saturday reported a 30 per cent rise in the post-tax net profit for the March quarter at Rs 353 crore, driven by non-interest income. Its core net interest income grew 18 per cent to Rs 1,600 crore on a 20 per cent loan growth. However, it was limited by a compression in the net interest margin to 5.45 per cent against 5.62 per cent a year ago. The other income grew 30 per cent to Rs 875 crore during the reporting quarter.

SBI Card: SBI Card on Friday reported an 11 per cent rise in profit after tax to Rs 662 crore for the quarter ended March 2024. SBI Cards and Payment Services Ltd (SBI Card) had a profit of Rs 596 crore in the fourth quarter of the 2022–23 fiscal. Total revenue rose 14 per cent to Rs 4,475 crore in the fourth quarter of 2023–24, as against Rs 3,917 crore in the year-ago period.

IDFC First Bank: For the March 2024 quarter (Q4 FY24), the lender reported a 9.8 per cent decline in profit while NII rose 24.2 per cent. Loan growth stood at 25.1 per cent while deposit growth came in at 38.7 per cent. GNPA slipped to 1.88 per cent against 2.04 per cent while NIM stood at 6.35 per cent against 6.42 per cent.

BSE: Shares of the exchange are expected to be in focus as Sebi wrote a letter to BSE on less payment of regulatory fees. Moreover, the regulator has asked BSE to pay a regulatory fee to the former based on the annual turnover fee considering "notional value" in the case of the options contract. Jefferies has double downgraded the stock to Hold from Buy and cut the target price to Rs 2,900 from Rs 3,000 earlier.

Small finance banks: The Reserve Bank of India (RBI) has introduced guidelines for the voluntary transition of small finance banks (SFBs) to universal banks, effective immediately. According to the guidelines, SFBs seeking to transition into Universal Banks must meet specific eligibility criteria. Firstly, they must maintain a satisfactory track record of performance for a minimum of five years.

(With inputs from agencies.) 

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